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January 5, 2004

MOL and Oman in LNG ship deal

Mitsui O.S.K. Lines, Ltd. today announced its participation in a project with the Government of Oman (GOSO) that will give it part ownership in two newbuilding LNG carriers for the transportation of liquefied natural gas (LNG) for Oman's third LNG liquefaction plant (production capacity 3.3 million tons per annum, to be completed by 2006).

With the addition of these two carriers, Oman and MOL will now jointly own four LNG carriers.

Interestingly, the two newbuilds are not sister ships. The first will be a 145,000 cu.m ship with a Moss Rosenburg containment system and will be built at Kawasaki. The second will be a 145,000 cu.m ship with a GTT membrance containment system and will be built at Samsung. Both are scheduled for delivery in the fourth quarter of 2005.

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